NSW: Resort sale, Kooindah Boulevard, Wyong

CHINESE-backed developer Harman Global Holdings has purchased the Kooindah Waters Residential Gold and Spa Resort on the NSW Central Coast for about $33 million.

The sale includes an 18 hole golf course, 108-room Mercure resort and the remaining residential lots.

The property was sold by Investa Property Group as the company focusses on its core business of office property.

Harman has indicated that the resort and golf course will continue to be managed by Accor and Troon Golf respectively.

It is also plans to build an extra 126 homes on the property. Investa Property Group picked up Kooindah Waters Residential Golf and Spa Resort as part of its acquisition of the Clarendon Property Group in 2005.

Harman, and the agents on the deal, Knight Frank's Richard Garland and Dominic Ong, declined to comment yesterday.

PRICE: $33m
BUYER: Harman Global Holdings
SELLER: Investa Property Group
AGENTS: Richard Garland and Dominic Ong, Knight Frank

Source:  The Australian - 29th July 2014